MAM
Elon Musk takes control of Twitter, fires CEO Parag Agrawal
Mumbai: Elon Musk started his ownership of Twitter by dismissing the company’s CEO Parag Agrawal, CFO Ned Segal, and head of legal affairs and policy, Vijaya Gadde.
Tesla’s CEO has stated that, while limiting censorship, he also wants to fight spam bots on Twitter, make the algorithms that decide how information is exposed to users public, and stop the social media site from turning into an echo chamber for hate and division.
The influential social media platform’s new owner, Musk, fired top executives he had accused of deceiving him and offered no details on how he would carry out the ambitious goals he has set for it.
He has stated that he intends to make employment cuts, which has caused the 7,500 or so employees of Twitter to worry about their future.
Also Read: Elon Musk makes a human appeal to advertisers few hours before Twitter deal
Musk fired Twitter’s chief executive officer Parag Agrawal, chief financial officer Ned Segal, and head of legal & policy Vijaya Gadde. Apparently, they had misled him and Twitter’s investors over the prevalence of phoney accounts on the social media site.
The sources stated that Agrawal and Segal were escorted out of Twitter’s San Francisco offices after the deal was finalised.
The $44 billion deal is the culmination of a remarkable saga full of twists and turns that cast doubt on Musk’s ability to complete the deal. On 4 April, Musk disclosed a 9.2 per cent stake in the San Francisco company, making him the company’s largest shareholder.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
